Contact usually begins as a wrong number, a dating match or a professional connection, and stays sociable for a long time before money is mentioned. The platform shows growing profits and permits small early withdrawals.
When a real withdrawal is attempted, fees and taxes appear. Deposits are typically moved off the platform on the day they arrive, which is why capturing hashes and reporting quickly changes what is still possible.
Related terms
Advance-fee fraud
A demand for payment before a promised benefit, made to someone who has already lost money.
Stablecoin
A token designed to hold a steady value against a currency, most commonly the US dollar.
Action Fraud
The UK's national reporting centre for fraud and cybercrime, and the route for reporting cryptocurrency fraud.
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